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Landlords back call for reform to capital gains tax payment rules

Responding to a report published last week by the Office for Tax Simplification (OTS), which recommends that the Government should extend the deadline for the payment of Capital Gains Tax from 30 to 60 days following disposal of a residential property, Chris Norris, policy director at the National Residential Landlords Association said: “Landlords should always ensure they meet all legally required deadlines to pay tax. That said, (the) report from the Office for Tax Simplification demonstrates a woeful lack of communication and consideration by HMRC about what is expected of those liable for the tax. It adds weight to the argument that the seemingly arbitrary, 30-day deadline has created more problems than it solves. We would support the OTS in recommending an extension to 60 days to avoid landlords missing a shorter deadline, potentially through no fault of their own.”

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